Incentives

The City and partner organizations offer a variety of incentive programs to assist new and existing businesses.  Certain incentives are designed to rebate new sales and/or property tax revenue.  Other programs support the modernization, modification, or repair of physical structures.  The following list highlights St. Charles’ incentive programs: (For more information click the link for the corresponding program description)

TIF

The City of St. Charles has adopted a formal Economic Incentive Policy that provides guidance and a detailed process for developers/businesses interested in TIF assistance.  Remember, creating a TIF District is a State regulated process and properties must meet these eligibility criteria to qualify.  Contact City staff to see about working together on your project.

Click on this link to review the City’s  Economic Incentive Policy.

Sales Tax Incentives

The City of St. Charles has adopted a formal Economic Incentive Policy that provides guidance and a detailed process for developers/businesses interested in tax rebate incentives.  If your business or development creates new revenue, the project may qualify for the City’s Economic Incentive Policy.  Contact City staff to see about working together on your project.

Click on this link to review the City’s  Economic Incentive Policy.

facade-improvement

Façade Improvement Grant – 50/50 matching grants (up to $20,000) are available for businesses/buildings in the City’s Historic Districts.  This program assists with improvements to building exteriors that preserve the historic nature and aesthetic appeal of the City’s historic properties.

To learn more about this program, please visit the Façade Improvement Grant information page.

corridor-impCorridor Improvement Grant – Businesses along the City’s commercial corridors and downtown are eligible for the CIC program.  This program provides 50/50 matching grants for landscape improvements that improve the aesthetic appeal of St. Charles’ major thoroughfares.

To learn more about this program, please visit the Corridor Improvement Grant information page.

commercial-incentive

Commercial Corridor and Downtown Business Economic Incentive Program – This program offers 50/50 matching awards (up to $25,000) for permanent structural & life safety modifications.  Eligible improvements include plumbing, electrical, fire sprinklers and alarms, and structural repairs.   Funds are restricted to retail and service businesses on the 1st floor of commercial buildings in downtown and major commercial corridors.

To learn more about this program, please visit the Commercial Corridor and Downtown Business Economic Incentive Program information page.

storefront-improvementStore Front Improvement Grant – The Downtown St. Charles Partnership (DSCP) offers financial assistance (up to $1,000) for downtown businesses looking to enhance their appearance through new signs, awnings, and lighting.

For more information, please contact the Downtown St. Charles Partnership at 630-443-3967 or by visiting their website at www.downtownstcharles.org.